Thursday, January 12, 2012

Boston Scientific plans 24 product launches in 2012

By Michelle Lang

Boston Scientific Corp. has plans for increasing profitability through the expected launch of 24 new products in 2012, the Natick medical devices giant said at a presentation Wednesday at the J.P. Morgan Healthcare Conference in San Francisco.

Hank Kucheman, CEO of Boston Scientific, presented the company plans, which included an emphasis on growing its drug-eluting stent (DES) business in China and India, where its current market share is far eclipsed by the company’s DES market share worldwide and in the U.S.

“We think this is a major growth catalyst for BSC,” Kucheman said.

The new product launches include new global launches of existing products, including its PtCr Element stent platform, which is expected to launch in Japan mid-year. The company also has plans to launch its Incepta (U.S.) and Ingenio (U.S. and E.U.) devices this year.

The company already announced last July that it would be investing $150 million in China to build a facility for medical device manufacturing and health-care provider training. In October, it introduced the Promus Everolimus-Eluting Coronary Stent System in China, which has the fastest-growing market for DES and may have the second-largest market for stent implantation after the U.S., according to Boston Scientific.  

Beyond its growth in China and India, Boston Scientific may see more growth via acquisitions for further diversifying the company, Kucheman said.

Boston Scientific said in December that the Internal Revenue Service said that the Natick company owes $581 million in back taxes plus interest and penalties – a claim that Boston Scientific disagreed with in an SEC filing.